Haha, this reminds me of when I hit that magical 78% mark—I swear my lender developed sudden amnesia. It took two phone calls and a very polite-but-firm email before they "remembered" to drop my PMI. Makes you wonder how many people accidentally keep paying longer than they need to. Has anyone here tried getting PMI removed early by getting their home reappraised? Curious if that's worth the hassle or just another headache...
"Has anyone here tried getting PMI removed early by getting their home reappraised? Curious if that's worth the hassle or just another headache..."
I actually went down that road last year—got my place reappraised hoping to ditch PMI early. Honestly, it wasn't too bad. Just had to tidy up a bit and cross my fingers the market was feeling generous. 😂 It worked out in the end, saved me a decent chunk each month. I'd say if your home value has jumped noticeably, it's definitely worth the minor headache...and maybe some extra vacuuming.
Glad it worked out for you—I tried the reappraisal thing too, but unfortunately my timing was off. Market cooled down right when I went for it, so the appraisal didn't hit the number I needed. Ended up just waiting until I naturally hit that 20% equity mark. Wasn't a huge deal, but definitely felt like I wasted a couple hundred bucks on the appraisal fee. Guess it really depends on your local market and timing...
- Totally get your frustration—timing the market is always tricky, especially with appraisals.
- Had a similar experience myself; appraisal came in lower than expected, felt like tossing money out the window.
- But honestly, waiting it out isn't the worst thing... at least you hit that 20% naturally and got rid of PMI eventually.
- Markets fluctuate so much, sometimes patience is just the safer bet. Glad you're past it now though.
- Agree patience can pay off, but sometimes refinancing earlier—even with a slightly lower appraisal—can save more long-term.
- Interest rates rising later could outweigh the PMI savings from waiting...
- Worth crunching the numbers carefully rather than defaulting to patience alone.
